June 13 (Reuters) - The Dow Jones Industrial Average hit a record intraday high as bank stocks rose ahead of a highly anticipated interest rate hike and as technology stocks rebounded.

Traders have priced in a 94 percent chance of the Federal Reserve raising interest rates. Investors are also looking for more details on the central bank’s plans to trim its $4.5 trillion balance sheet.

The Fed is expected to release its decision at 2:00 p.m. ET (1800 GMT) on Wednesday followed by a press conference by Fed Chair Janet Yellen.

A bout of profit-taking in richly-valued technology stocks caused the Nasdaq to suffer its worst two-day drop in more than six months on Monday.

However, technology stocks staged a recovery on Tuesday. Apple, which had sparked the selloff, was up 1.3 percent at $147.29 and boosted the S&P 500 and the Nasdaq.

Big technology names like Microsoft, Alphabet and Facebook were also up about 1 percent, propping up the S&P technology sector.

“It (the market) wants to wait and see if the Fed’s going to actually raise rates tomorrow, and then it wants to wait and see whether or not the tech stocks can actually rebound,” said Adam Sarhan, chief executive officer at 50 Park Investments in Florida.

“If (the rebound) holds and the Fed does raise rates tomorrow, it would bode very well for bulls.”

At 9:49 a.m. ET the Dow Jones Industrial Average was up 54.38 points, or 0.26 percent, at 21,290.05, the S&P 500 was up 7.57 points, or 0.31 percent, at 2,436.96 and the Nasdaq Composite was up 47.48 points, or 0.77 percent, at 6,222.95.

Six of the 11 major S&P 500 sectors were higher. Financials were up 0.6 percent, helped by gains in big banks after the U.S. Treasury Department announced sweeping changes to banking regulations on Monday.